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Chapter 11 Debtors With Confirmed Plans Are Now Eligible For PPP Loans | McCarter & English, LLP

To embed, copy and paste the code into your website or blog: The Small Business Administration (SBA) published new guidance declaring Chapter 11 debtors with confirmed plans as eligible for Paycheck Protection Program (PPP) loans. The new guidance creates an exception to the SBA’s blanket rule that any entity “presently involved” in bankruptcy is not eligible for PPP funds. The PPP and the Bankruptcy Exclusion The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created the PPP under Section 7(a) of the Small Business Act, which authorizes the SBA to guarantee loans to qualified small businesses, with the goal of helping them keep their employees working during the pandemic. While the CARES Act eliminated for the PPP the traditional Section 7(a) loan requirement that a business demonstrate it was unable to obtain credit from commercial sources, in favor of a good-faith representation that “the current economic uncertainty makes the PPP loan request necessary

Paycheck protection programBankruptcy courtSmall business administrationCoronavirus aidEconomic security actSmall business actBankruptcy exclusionConsolidated appropriations actBankruptcy codeAsked questionsசம்பள காசோலை ப்ரொடெக்ஶந் ப்ரோக்ர்யாம்திவால்நிலை நீதிமன்றம்பொருளாதார பாதுகாப்பு நாடகம்சிறிய வணிக நாடகம்திவால்நிலை விலக்குதிவால்நிலை குறியீடு

American Rescue Plan Tax Credits For Employers Who Voluntarily Provide Paid Sick Leave And Paid Family And Medical Leave - Employment and HR

To print this article, all you need is to be registered or login on Mondaq.com. On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (the Rescue Plan ). 1 This post reviews Section 9641 of the Rescue Plan, which makes available tax credits to certain employers who voluntarily provide paid time sick leave and family and medical act leave to employees for absences occasioned by the pandemic, from April 1, 2021 through September 30, 2021. Section 9641 of the Rescue Plan is based on the paid sick leave and paid family and medical leave provisions that were effective April 1, 2020 through December 31, 2020, under the Families First

United statesPaycheck protection programPresident bidenRescue plan actRescue planFamilies firstCoronavirus response actTax creditsConsolidated appropriations actInternal revenue codeCode sectionTax credit mattersCode sectionsSmall business actEconomic aidHard hit small businesses

Considering Opportunities For The Upcoming Federal Taxation Of Cannabis

The change in the presidential administration has focused cannabis businesses on the potential for legalization nationwide. Running parallel to full federal legalization will be a corresponding regulatory and taxation scheme replacing the current regime of IRC §280E which prohibits anything but the cost of goods sold being deducted from a state licensed cannabis operation’s income statement. The evolution of the federal taxation of cannabis started with the Marijuana Tax Act of 1937, which applied tax to marijuana used for medicine. Historians and critics alike maligned this legislation as an attempt to stop the use of cannabis rather than tax it.

United statesAdministrator of the small business administrationRevenue serviceDepartment of justiceInstitute on taxationBureau of labor statisticsSmall business administrationCommunity reinvestment grant programTax administrationWashington postSubstance use treatment servicesTax foundationOpportunity trust fundCannabis justice officeRobert carpTech today

Comienza férrea fiscalización que prohíbe venta de leña húmeda

Comienza férrea fiscalización que prohíbe venta de leña húmeda
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NAVSUP FLC Norfolk Issues $99 8M Multiple Award Contract to Small Business Vendors

US Navy Naval Supply Systems Command (NAVSUP) Fleet Logistics Center (FLC) Norfolk issued a multiple-award indefinite-delivery/indefinite-quantity (ID/IQ) contract with a total ceiling value of $99.8 million to small-business 8(a) vendors, April 1. Naval Supply Systems Command (NAVSUP) Fleet Logistics Center (FLC) Norfolk issued a multiple-award indefinite-delivery/indefinite-quantity (ID/IQ) contract with a total ceiling value of $99.8 million to small-business 8(a) vendors, April 1. The contract is designed to provide NAVSUP Business Systems Center (BSC) with additional information technology (IT) support to meet mission requirements, pursue emerging business opportunities for the Navy, and collaborate with public sector IT leaders. “The NAVSUP FLC Norfolk contracting professionals designed the contract to enhance opportunities for small business while at the same time promoting affordability. NAVSUP FLC Norfolk contracting officers molded an outstanding competitive acquisi

United statesChris espenshadeJosh egglestonDigital consultantsEagle harbor solutionsFleet logistics centerIntellectechs incBusiness systems centerUs navyBowhead total enterprise solutionsOffice of small business programsBusiness developmentNaval supply systems commandSupply systems commandSystems centerSmall business